Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Return to blackvualu Weygandt, Financial Accounting, 10e Help System Announcements CALCULATOR PRINTER Information related to Bramble Corp. is presented below. 1. On April 5, purchased

image text in transcribed

image text in transcribed

Return to blackvualu Weygandt, Financial Accounting, 10e Help System Announcements CALCULATOR PRINTER Information related to Bramble Corp. is presented below. 1. On April 5, purchased merchandise on account from Flounder Company for $45,000, terms 4/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of $910 on merchandise purchased from Flounder. 3. On April 7, purchased equipment on account for $30,100. 4. On April 8, returned damaged merchandise to Flounder Company and was granted a $4,700 credit for returned merchandise. 5. On April 15, paid the amount due to Flounder Company in full. (a) Your answer is partially correct. Try again. Prepare the journal entries to record these transactions on the books of Bramble Corp. under a perpetual inventory system. (Credit account titles are autom amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit Credit No. 1. Date April 5 Account Titles and Explanation Inventory 45,000 45,000 2. TApril April 6 Accounts Payable Freight-In Freight-in T Cash Equipment 2 10 3. April 7 30,100 Accounts Payable 30,100 isk me anything. o a a we Accounts Payable 45,000 April 6 VE Freight-In 910 EVETTE Cash 910 April 7VIEquipment 30,100 Accounts Payable 30,100 April 8v|Accounts Payable 4,700 Purchase Returns and Allowances 4.700 April 15 Accounts Payable 40,300 Purchase Discounts 1,800 Cash 38,500 Attem ne anything

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

IRS Audit Protection And Survival Guide Bars And Restaurants

Authors: Gerald F. Bernard, Daniel J. Baran

1st Edition

0471166375, 978-0471166375

More Books

Students also viewed these Accounting questions

Question

The Functions of Language Problems with Language

Answered: 1 week ago

Question

The Nature of Language

Answered: 1 week ago